How to Break Through Competition in the Business of Online Gifting To break through the cloud of competition, one needs to be adept in handling online marketing tools
By Amit Desai
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Online gifting market in India is growing at an unprecedented rate, driven by various factors such as increasing internet penetration and rising income levels of the millennials. The sheer convenience of ordering gifts for loved ones from an online platform, getting it easily customized, and then delivered within a particular time-frame, is the major incentive behind the success of online gifting sector.
While the digital world has lessened the gap between the customer and company significantly, it has also opened the door for a huge amount of competition to settle into the online gifting market. The customer might be spoilt for choice but it has been observed that netizens tend to stick to only a few options when considering which platform to use. These platforms are the ones that have built a name and reputation for themselves over a period of time and hence stand apart from the crowd. Consistency in providing excellent service also helps in creating a stellar repute.
Traditional marketing methods break down when one starts competing in the online space. The rules of the game are different because the virtual world is more fast-paced and offers instant gratification to the consumer. At the same time, the competitors are more because establishing an online business is relatively easier to manage than a traditional shop. To break through the cloud of competition, one needs to be adept in handling online marketing tools.
Here are the five things which can help you beat the virtual noise and become a leader in the business of online gifting:
SEO or Search Engine Optimization – This is a major tool that has the potential to make or break a website. It is the key for online success because if one has not optimized their website to rank on the popular search engines like Google, Yahoo and Bing then no matter how brilliant the platform and impeccable the service, it will be lost in the millions of searches. The search bots will index the website according to how original its content is and how much it complements the search keywords which netizens use.
Mastering the SEM – Search Engine Marketing offers a method to the madness when it comes to gear the website to rank on the search engine. For this, after SEO, one should have a brilliant grasp on the utilization of Google Adwords.
At the same time, one's website should have its social media arms ready with Facebook, Twitter and Instagram's promotional content matching the platform's personality.
Up to date technology – Evolution of technology is truly fast-paced online. One doesn't have the luxury to be stagnant. It's essential to adapt to the changes, seemingly on an instant basis. For example, today most online e-commerce websites are App-driven. Even navigating the website is a surreal experience with responsive keystrokes and chat-bots providing a layer of personalization.
Product presentation & differentiation- Catalogue of an online gifting website is a critical factor in defining its success. How the products are combined, presented and differentiated makes a huge difference. Average Indian consumer will compare one product on two to three websites before making a selection. Hence, know your top competitors and keep on sweetening the deals for your consumers.
Strong Social Media identity – It is essential to keep one's potential customers engaged with regular posts and creative content on various social media platforms. Social media campaigning has proven highly successful in engaging with consumers by having a deeper understanding of what drives an average consumer's buying decisions.
